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Tencent net profit exceeds 77 bln yuan last year

2019-March-22       Source: Xinhuanet.com

Chinese tech conglomerate Tencent announced Thursday that it registered a net profit of about 77.47 billion yuan (about 11.58 billion U.S. dollars) in 2018.

A staff walks past decorations for the 20th anniversary of the founding of Tencent Co., Ltd. at an office building of Tencent in Shenzhen, south China's Guangdong Province, Dec. 3, 2018. (Xinhua/Mao Siqian)

Chinese tech conglomerate Tencent announced Thursday that it registered a net profit of about 77.47 billion yuan (about 11.58 billion U.S. dollars) in 2018.

The tech giant's revenue totaled 312.69 billion yuan (about 46.8 billion U.S. dollars) last year, up 32 percent year-on-year, according to the company.

The company, known for mobile payment services and its social media platform, posted major growth in financial services, advertising, and the subscription and sales of digital content in 2018.

Tencent's daily mobile payment volume exceeded one billion transactions, and its payment revenue recorded a year-on-year rise of over 100 percent.

Wechat, Tencent's social media platform, has nearly 1.1 billion active monthly users. Meanwhile, subscribers of Tencent's video services grew by 58 percent year on year to 89 million.

Editor: Monica Liu

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